Principal
| Author | Jeffrey Lehman, Shirelle Phelps |
Page 84
A source of authority; a sum of a debt or obligation producing interest; the head of a school. In an agency relationship, the principal is the person who gives authority to another, called an agent, to act on his or her behalf. In CRIMINAL LAW, the principal is the chief actor or perpetrator of a crime; those who aid, abet, counsel, command, or induce the commission of a crime may also be principals. In investments and banking, the principal refers to the...
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